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South Sea Baubles has the following (incomplete) balance sheet and income statement
South Sea Baubles has the following (incomplete) balance sheet and income statement.
Assume the firm pays taxes equal to 21% of taxable income.
BALANCE SHEET AT END OF YEAR(Figures in $ millions)
Assets 2018 2019 Liabilities and Shareholders' Equity 2018 2019
Current assets $106 $220 Current liabilities $82 $108
Net fixed assets 960 1,060 Long-term debt 680 910
INCOME STATEMENT, 2019
(Figures in $ millions)
Revenue $2,030
Cost of goods sold 1,110
Depreciation 430
Interest expense 256
f) What is cash provided by operations during 2019?
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